UCO Bank Q4 Update: PSU lender reports strong loan growth; Deposits also grow double-digits

Shares of state-run UCO Bank Ltd. gained on Monday, April 6, after the lender reported its provisional numbers for the fourth quarter.

UCO Bank's total business increased to ₹5.89 lakh crore in the fourth quarter, up 6.32% from the previous quarter and 14.59% from the previous fiscal.

Its total advances were up 7.4% sequentially and 19.09% annually at ₹2.62 lakh crore.

The lender's total deposits increased to ₹3.27 lakh crore. These were up 5.48% from the previous quarter and up 11.22% from the same year-ago period.

Its domestic advances increased to ₹3.04 lakh crore, these were up 4.11% from the previous quarter's ₹2.92 lakh crore and up 10.14% from the last year's ₹2.76 lakh crore.

UCO Bank's CASA ratio increased to 80.12% in the fourth quarter from 74.94% in the previous quarter and 78.56% from the previous year.

Its domestic CASA ratio was at 38.48%, up from 37.91% sequentially and marginally higher than the 38.41% in the year-ago period.

The lender said the provisional numbers are subject to audit by its statutory central auditors.

UCO Bank shares were trading 1% up at ₹24.12 apiece at 10.50 am on Monday. The stock has fallen 18% this year, so far.

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